Higher education in many advanced countries have been expanded greatly since 1980s, and transformed from the traditional “elite” pattern, to a “mass,” or even an “universal” one, according to Martin Trow's terms. Access to higher education has become wider along with the expansion of higher education, but whether such a wider access means a more equal provision of higher education remains to be questioned, and the equity of higher education has still been an issue with great concern. In order to promote the equity of higher education, a number of advanced countries, such as the USA and the UK, have tried to construct a set of indicators measuring the equity of higher education in their own countries. Higher education in Taiwan has also expanded tremendously in the recent decades, so how to develop or construct a set of indicators suitable for measuring the equity of higher education, becomes crucial to the promotion of equity or equality of higher education in Taiwan. This study mainly aimed to explore the possibility of constructing indicators for assessing the equity in higher education. The methods used in this study include methods of literature review, document analysis, experts' consultative meeting, and the Delphi method, which selected a panel of 10 experts to answer the revised questionnaires, modified primarily according to the consultative suggestions from the experts, in a total of three rounds. Finally, a set of 45 indicators is constructed in four main dimensions, namely, the socio-economic contexts, the opportunity of access, the education process, and learning outcome, and these four main dimensions are further divided into 11 sub-dimensions.